Mexico’s FEMSA buys leading c-store in Chile
Mexico-based retailer FEMSA Comercio continues its expansion plans in the Chilean retail market with the acquisition of Big John, a leading convenience store operator based in Santiago, Chile, according to a company release. The amount of transaction has not been disclosed.
The purchase of Big John has reaffirmed FEMSA’s “appetite to pursue incremental growth opportunities in the region.”
Big John runs 49 convenience stores mostly located in Santiago metropolitan area.
Last year, FEMSA Comercio bought a majority stake in Chilean drugstore operator Socofar.
FEMSA Comercio, a subsidiary of FEMSA (Fomento Económico Mexicano, S.A.B. de C.V.), operates several small-format retail chains in Mexico, Chile and Colombia, including OXXO stores and gas stations; Yza, Moderna, Farmacon and Cruz Verde drugstores, Maicao beauty stores, and Doña Tota quick service restaurants.
Its parent company FEMSA is a Monterrey, Mexico-based multinational beverage and retail company known to be the largest franchise bottler of Coca-Cola and the second largest shareholder in Heineken.
